Research & development (R&D) tax reliefs
Research and Development Tax Relief could be available if you are working to resolve scientific or technical uncertainties. This relief aims to incentivise companies to innovate using the tax system. Claims are not only for those taking part in laboratory research – relief is sought on qualifying expenditure. The benefit of claiming is that it can either reduce your taxable profits or creates increased tax losses, which can be sacrificed to HMRC in return for a cash payment.